(Arm is reported to cut "Blue Sky" research, close flagship technology department to focus on more commercially feasible products before IPO]-Softbank Corp. 's chip design company Arm is restricting its "Blue Sky" research and has closed a flagship technology department. Ahead of this year's much-anticipated launch, Arm has refocused its efforts on more commercially viable products. Arm secretly submitted its application for IPO in the United States to regulators in April. People familiar with the matter said at the time that the company was seeking to raise between $8 billion and $10 billion. Arm said that the size and price range of the IPO have not yet been determined.